Query:
Its a case law. Public limited Government undertaking co.
on 30.3.2011 a board meeting was held to discuss agenda and passed a resolutiion regarding increase in authorised share capital. On the same day, EGM was held and the resolution regarding increase in authorised share capital of the company was passed. the very day, shares were alloted to the governement. On 31.3.11, in financial statements such increase was reported, both in authorised and paid up capital. But, the forms 5 filing, and stamp duty payment along with fees and late filing fee were filed in sept, after the audit report signed for 2010-11. The shares were issued to govt, in dec( though alloted on 30.03.2011) Now the question is whether such increase was effective from the date of EGM, or was it from the date of filing of ROC form. And is any mistake on part of co. in issuance of shares certificates in dec?
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